Scottish Re Subpoenaed In Reinsurance Probe

Law360, New York (December 12, 2005, 12:00 AM EST) -- The Securities and Exchange Commission’s probe into the lucrative reinsurance industry has expanded to include holding company Scottish Re Group Ltd. The firm said Monday it had been served with a subpoena related to an investigation launched by the regulatory agency earlier this year.

The investigation relates to questionable trades in Scottish Re’s securities by its current chairman and by several former executives, all of whom left the company in 2001. The news was made public through Scottish Re’s filings Monday with the SEC.